Scandinavian Tobacco Group A/S Announces EUR 300M Bond Issue
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Scandinavian Tobacco Group A/S Issues EUR 300 Million Notes
Scandinavian Tobacco Group A/S is proud to announce the successful pricing of a new issuance of senior unsecured notes totaling EUR 300 million. These notes carry a coupon of 4.875% and are set to mature in September 2029.
Details of the Notes Issuance
The new notes are expected to be issued on 12 September and will be traded on the regulated market of Euronext Dublin. This strategic move allows the company to raise capital, which will be utilized for a range of general corporate purposes, including refinancing of existing debt obligations.
Credit Rating
In support of this issuance, Moody’s Investor Services has assigned a Baa3 rating to the bonds, which aligns with the current rating for Scandinavian Tobacco Group A/S. This favorable rating reflects the company’s stable economic standing and commitment to maintaining sound financial practices.
Joint Bookrunners
A distinguished group of banks acted as joint bookrunners for this transaction, including Citigroup Global Markets Europe AG, Danske Bank A/S, Jyske Bank A/S, and Nordea Bank Abp. Each of these institutions played an essential role in the execution of this bond offering, demonstrating their confidence in the company's growth trajectory.
Future Prospects
This bond issuance is a crucial step for Scandinavian Tobacco Group A/S as it continues to enhance its financial flexibility. By refinancing existing debts, the company aims to optimize its capital structure, allowing greater operational efficiency and positioning itself for future growth in the market.
Contact Information
For additional inquiries, please reach out to Torben Sand, the Director of IR & Communication, at +45 5084 7222 or via email at torben.sand@st-group.com.
Frequently Asked Questions
What is Scandinavian Tobacco Group A/S?
Scandinavian Tobacco Group A/S is a leading international tobacco company engaged in the manufacture of cigars and pipe tobacco.
What are the terms of the newly issued notes?
The notes have a principal amount of EUR 300 million, a coupon rate of 4.875%, and will mature in September 2029.
Where will the bond be listed?
The bond will be listed on the regulated market of Euronext Dublin.
Why did Scandinavian Tobacco Group A/S issue these notes?
The proceeds from this issuance will be used for various corporate purposes, particularly for refinancing existing debt.
Who were involved in the issuance process?
Citigroup Global Markets Europe AG, Danske Bank A/S, Jyske Bank A/S, and Nordea Bank Abp served as joint bookrunners for the transaction.
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